This is one of the leanest periods I can remember since the financial crisis. The closest thing out there to a bargain right now, in my view, is Alamos Gold: low p/b, recent insider buying, no debt, small dividend. I don't buy gold companies though because I use a variant of the permanent portfolio in my TFSA: one third broad equities, one third bonds, one third physical gold. (Six percent annualized return with no negative years in the last 20, in case you were wondering.)
In other news I exited my position in Brookfield Property Partners. I've seen it mentioned as a value pick of late but it's not for me. I hate everything they're doing: increasing debt, the foray into U.S. malls, and Brookfield's complicated corporate structure. It was an old investment from a different time.
